Aspects of Social Accounting: Introducing the Process in an Australian Credit Union

This paper documents the introduction of triple-bottom-line reporting to an organisation within the banking sector. Particular focus is placed on the implementation and reporting of the social responsibility aspects of triple-bottom-line reporting. The case study examines the management of the change from a practical and strategic perspective. Impact of the introduction is examined internally to the organisation and external stakeholders are canvassed to examine the impact understanding and value of the strategic direction taken by the organisation. In addition the study delivers a descriptive snapshot of the state of play (limited to August 2002) in respect of Social Accounting and the disclosures by Australian Banks in Financial Statements and other published reports. Published Financial Reports and information published on the institutions web site are utilised to undertake an analysis of content and preferred method of reporting. There is a clear movement toward the reporting of social activities within the banking sector in Australia. The methods chosen range in type from casual statements to formal reports but no clear framework has been established as to the preferred mode or content. An analysis of the implementation and reporting process of a banking sector organisation will inform the development of the discipline of Social Accounting and in part assist in the development of a framework for reporting within the banking industry.